Double check if bank calls for KYC- Here's why.
On monday (September 13), the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india issued an advisory encouraging bank client to be cautious when doing online transactions. This occurred after the central bank received multiple complaints alleging that the KYC (Know Your Customer) upgrade is being used to defraud bank clients.
Customers are being requested to give personal information like login data, card details, PIN, and OTP via phone calls, SMS, and emails, according to the RBI. By providing a link, some scammers may encourage consumers to install illegal or unverified software for a KYC update.
Customers are informed that if they do not update their details, their account may be frozen, blocked, or closed, according to a statement published by the RBI, thus they are obligated to submit information. If a consumer provides his details over the phone, over text message, or through an unlawful app, fraudsters will get access to his account and be able to defraud him.
Customers are advised not to share their account login information, a copy of their KYC documents, card information, PIN, password, or OTP with unknown persons or agencies, according to the RBI. Regulated entities must update KYC on a regular basis, according to the RBI, but the process has been simplified.
Customers are being requested to give personal information like login data, card details, PIN, and OTP via phone calls, SMS, and emails, according to the RBI. By providing a link, some scammers may encourage consumers to install illegal or unverified software for a KYC update.
Customers are informed that if they do not update their details, their account may be frozen, blocked, or closed, according to a statement published by the RBI, thus they are obligated to submit information. If a consumer provides his details over the phone, over text message, or through an unlawful app, fraudsters will get access to his account and be able to defraud him.
Customers are advised not to share their account login information, a copy of their KYC documents, card information, PIN, password, or OTP with unknown persons or agencies, according to the RBI. Regulated entities must update KYC on a regular basis, according to the RBI, but the process has been simplified.